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Order approving a bankruptcy trustee’s stipulation for waiver

1st cir

In Re: Ontos, Inc. (03/01/07 – No. 06-1512)

Order approving a bankruptcy trustee’s stipulation for waiver and release of claims arising out of a bankrupt company’s fraudulent transfer is affirmed where: 1) creditors only have standing to pursue claims for fraudulent conveyance during bankruptcy proceedings when a trustee or debtor in possession unjustifiably fails to pursue the claim, which was not the case here; 2) there is no breach of fiduciary duty to creditors that is not derivative of a breach to the corporation; and 3) fraudulent conveyance claims pursued against an alter ego or successor corporation are derivative in nature, and therefore the property of the bankruptcy estate.

2nd cir

In Re: Bethlehem Steel Corp. (03/02/07 – No. 06-1478)

In case where appellant was terminated as debtor’s employee without cause during the pendency of debtor’s Chapter 11 bankruptcy proceedings, denial of claim for priority payment is affirmed over contention that a portion of the early retirement benefits due appellant under two retirement plans is a severance payment entitled to priority as an administrative expense.

3rd cir

In re: Am. Pad & Paper Co. (03/02/07 – No. 05-1379, 05-1380, 05-1381, 05-1382)

In the context of the statute of limitations on avoiding powers in bankruptcy cases, section 546(a)(1)(B) of the Bankruptcy Code is amenable to a “plain language” analysis, and the circuit court declines to read section 701, relating to interim trustees, into the specific statutory provisions delineated therein.

4th cir

Kreisler v. Goldberg (02/26/07 – No. 05-2238)

In a voluntary Chapter 11 case, denial of plaintiff’s motion for sanctions for an alleged violation of the automatic stay, to void ejectment and turn over property and rents collected, is affirmed as the automatic stay did not apply to actions against plaintiff’s non-bankrupt subsidiary corporation.

Nunnery v. Rountree (02/27/07 – No. 05-1123)

Reversal of bankruptcy court’s determination that a judgment debt defendant owes plaintiff was not dischargeable in bankruptcy is affirmed. Since defendant did not obtain money, property, services, or an extension, renewal, or refinancing of credit via her fraud on plaintiff, the exception to discharge does not apply.

9th cir

In re: Reynoso (02/27/07 – No. 04-17190)

In an appeal arising from an adversary proceeding initiated by the U.S. Trustee in a bankruptcy case, a judgment against a seller of web-based software that prepares bankruptcy petitions is affirmed where the bankruptcy appellate panel correctly found that the seller had committed fraudulent, unfair, or deceptive conduct, and had engaged in the unauthorized practice of law. In a question of first impression in the Ninth Circuit, a software-provider may qualify as a bankruptcy petition preparer under 11 U.S.C. section 110(a)(1).

10th cir

In re: Regan (02/28/07 – No. 05-1307)

In a bankruptcy case, a decision reversing a determination that a debt owed to a supplier of roofing materials and supplies by debtors was nondischargeable is reversed where the Colorado Supreme Court’s proper construction of the Colorado Mechanic’s Lien Trust Fund Statute was dispositive of the issue of whether the debt was dischargeable

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